Wednesday, 28 August 2013

Gold (XAUUSD) and Silver (XAGUSD) Counter Trend Pin Bar on Daily Time Frame

Gold and has formed a pin bar in an obvious uptrend, this is signalling that there could be a pull back in the market as higher prices are being rejected.

This type of trade is not ideal for new traders, and should only be taken by traders with experience. It has to be managed very tightly in order to secure profit as soon as possible.

The near term support level in both these pairs is a very good level for traders to go long off on a valid PA signal.

Gold / XAUUSD Counter Trend Pin Bar

Silver / XAGUSD Counter Trend Pin Bar and Big Round Number of $25.00

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